Identify the Correct Classification for the Following Five Ledger Accounts

question 12

Multiple Choice

Identify the correct classification for the following five ledger accounts:

• A) 1 asset, 2 expense, 3 expense, 4 asset, 5 expense.
• B) 1 asset, 2 expense, 3 asset, 4 expense, 5 liability.
• C) 1 asset, 2 expense, 3 expense, 4 asset, 5 liability.
• D) 1 expense, 2 expense, 3 expense, 4 expense, 5 expense.